1921
26th Avenue
Property Highlights
- Three-story building with attractive mosaic tile entry and custom iron perimeter fencing — a physical presence that sets the standard for the block
- Keyfob-secured entry gates, marble floor entry, and designer tiling on walls of hallways.
- Built-in secure package drop at the perimeter fence — a practical amenity that drives tenant retention
- Fully upgraded units feature large-format slate tile throughout, recessed lighting, ductless mini-split climate control, and in-unit LG stacked washer/dryer
- Kitchens feature black countertops, grey cabinetry, and a dark backsplash.
- Bathrooms finished with floor-to-ceiling tile, frameless glass shower enclosures, rain head fixtures, floating vanities, and designer fixtures throughout
- All but one unit has been upgraded to luxury level and commands premium rent, demonstrating the portfolio’s proven operating model.
Explore 1921 26th Avenue
Exterior
Renovated Interiors
Kitchen
Bathroom
Amenities
Floor Plan
Summary & Financial Overview
Investment Summary
1921 26th Avenue demonstrates the Excedente model in operation: extensive improvements, premium rents, and an established income stream. Offered at $4.98M, the property comprises 18 apartments, with twelve one-bedroom and six two-bedroom units. The exterior, common areas, and infrastructure have been extensively renovated, and all but one apartment has been upgraded to luxury level.
The achieved rents provide the proof of concept Scott highlights across 1921 and 1929. At 1921, 550-square-foot one-bedroom apartments command approximately $1,900 per month, with the supplied schedule showing upgraded one-bedroom rents from $1,845 to $1,995. A 750-square-foot two-bedroom apartment rents for $2,750 per month, approximately the $2,800 level Scott describes. These are demonstrated rents from the existing operating model.
The major building improvements are complete, allowing a buyer to take over the established operation and continue collecting rent. The remaining renovation opportunity is limited to Unit 25, the sole unimproved apartment. Its scheduled current rent is $963.83 per month against a $1,895 market-rent assumption, with an estimated $25,000 upgrade cost. This is a focused remaining opportunity within an extensively improved property.
The supplied rent schedule totals $36,900.33 per month, including $600 in laundry income, against a modeled market total of $38,865. Scott’s itemized annual expenses total $117,838. At the modeled market rents, annual income less those listed expenses is $348,542, equivalent to approximately a 7.0% fully improved cap rate on the $4.98M asking price plus the $25,000 upgrade budget. Stable income. Model proven.
Rent Summary
| Unit | Status | Type | Size (SF) | Current Rents (Monthly) |
Market Rent | Cost to Upgrade | Coupon Payment ROI | Fully Improved Cap Rate |
|---|---|---|---|---|---|---|---|---|
| 1 | Rented | 2BD | 750 | $2,295.00 | $2,495.00 | Upgraded | ||
| 2 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 3 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 4 | Rented | 1BD NC* | 550 | $1,845.00 | $1,895.00 | Upgraded | ||
| 5 | Rented | 1BD | 550 | $1,995.00 | $1,995.00 | Upgraded | ||
| 6 | Rented | 2BD | 750 | $2,295.00 | $2,495.00 | Upgraded | ||
| 21 | Vacant | 2BD | 750 | $2,595.00 | $2,595.00 | Upgraded | ||
| 22 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 23 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 24 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 25 | Rented | 1BD | 550 | $963.83 | $1,895.00 | $25,000 | 45% | |
| 26 | Rented | 2BD | 750 | $2,750.00 | $2,750.00 | Upgraded | ||
| 31 | Rented | 2BD | 750 | $2,295.00 | $2,495.00 | Upgraded | ||
| 32 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 33 | Vacant | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 34 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 35 | Rented | 1BD | 550 | $1,895.00 | $1,895.00 | Upgraded | ||
| 36 | Rented | 2BD | 750 | $2,111.50 | $2,495.00 | Upgraded | ||
| Laundry | $600.00 | $600.00 | ||||||
| TOTALS | $36,900.33 | $38,865.00 | 7.0% | |||||
Rent schedule note: Units 21 and 33 are marked vacant. Their listed monthly rents are included in the supplied $36,900.33 total; this total therefore does not represent rent currently collected from occupied units alone. Market rents and the fully improved cap rate are projections.
Property Snapshot
6 x 2BD
Expense Summary (Annual)
| Expense | Annual Amount |
|---|---|
| Real Estate Tax (1.37%) | $68,226 |
| Yearly Rent Adjustment Board Fees | $1,612 |
| Insurance | $9,500 |
| Water & Sewer | $7,600 |
| Waste Management | $11,500 |
| Superintendent | $5,000 |
| Business License | $2,400 |
| PG&E | $12,000 |
| Total Annual Expenses | $117,838 |
Oakland Market
Oakland's challenges are not a secret. Any investor who has spent time in the Bay Area knows the city's reputation — and some of it is earned. What is less understood is that those same conditions created the environment in which this portfolio was built. This owner did not find premium rents in Oakland because the market handed them to him. He built the product, applied the discipline, and extracted returns that the surrounding market can not explain.
And now the market is beginning to move. In August 2026, Jeff Bezos' AI startup Project Prometheus signed a lease for 100,000 square feet in West Oakland. Tesla followed with 40,000 square feet at the same campus. Behring Capital announced plans for an AI data center in downtown Oakland, anchoring a 1.3-million-square-foot innovation campus on Broadway. These are not speculative bets. These are committed capital decisions by operators who do not make casual moves.
Across the Bay, San Francisco apartment rents rose 14% in four months. The AI workforce driving that surge needs somewhere to live that is not $5,000 a month for a one-bedroom. Oakland is 20 minutes from downtown San Francisco by BART. It always has been. What is different today is the employers are now coming to Oakland.
Oakland's Director of Economic Development put it plainly: when San Francisco booms, Oakland follows. There is always a lag. The question for an investor is not whether Oakland will benefit from the AI economy reshaping the Bay Area. The question is whether you want to be positioned before that lag closes — or after.
The Excedente Portfolio is already there. The product is built. The rents are proven. The remaining upside is documented and executable. The timing has met the preparation for a golden opportunity.
Let’s Start the Conversation
Scott Piper
Disclaimer: This Offering Memorandum has been prepared for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy. Information contained herein is subject to change and may contain errors or omissions. Prospective purchasers should conduct their own independent investigation and rely solely on their own due diligence, including verification through licensed professionals, before making any purchase decision. All financial information, including current and pro forma operating income, rent projections, expense estimates, market data, and other assumptions should be independently verified.